If you trade like me, you'll be homeless and broke within a week.
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DislikedHi Everybody here, hi Ghous... Was looking for fake breakout n I find a break out in GPB/USD dont really knw if am right, Pls correct me...Ignored
DislikedHi Everybody here, hi Ghous... Was looking for fake breakout n I find a break out in GPB/USD dont really knw if am right, Pls correct me... {image}Ignored
Disliked{quote} The whole Forex world is awaiting the most anticipated news event of 2013, about 9 hours from now, I will be flat, stay flat and read the charts in the aftermath. I certainly would not be trusting any charts patterns that may or may not have produced a certain price action in the past. YMMV, or if you know of certain way to trade, speak up now, and not as Harry Hindsight tomorrow. Regards, E.Ignored
DislikedThat is why trading alongside the more experienced traders could be very profitable as well. Which would you rather be part of: the smart minority that fades breakouts or the losing majority that gets caught in false breakouts? Read more: http://www.babypips.com/school/fade-...#ixzz2fCR5SIQTIgnored
Disliked{quote} No actually I am not old school. I am simply an English teacher who knows that the word VIDEO is taken from the Latin word videre, which means to see. Therefore, it is you young whippersnappers who are the young school and, using your native language incorrectly. If indeed English is your native language, if not. Now you know the real deal. It is actually an audio recording only. Anyway you look at it, or don't in this case. Haaaa Excuse the pun.Ignored
DislikedHi Everybody here, hi Ghous... Was looking for fake breakout n I find a break out in GPB/USD dont really knw if am right, Pls correct me... {image}Ignored
Disliked{quote} Sorry PB I think this is a terribly bias and uninformed piece of hack writing. Breakouts can be traded very successfully with the right market conditions. Creating stereotypes along the lines of Fade trading is intelligent, Breakout trading is stupid is just foolish over simplification and does nothing to help newbies. Traders would do well not to fall into this false superiority complex. Much better, IMHO, to be able to identify ranging markets and trending markets and apply the correct strategy at the right time.Ignored
Disliked...hoping i won't get shot down for this, as it's a daily FTSE chart, but would appreciate any comment on this 'top'? {image}Ignored
Disliked{quote} Sorry PB I think this is a terribly bias and uninformed piece of hack writing. Breakouts can be traded very successfully with the right market conditions. Creating stereotypes along the lines of Fade trading is intelligent, Breakout trading is stupid is just foolish over simplification and does nothing to help newbies. Traders would do well not to fall into this false superiority complex. Much better, IMHO, to be able to identify ranging markets and trending markets and apply the correct strategy at the right time.Ignored
Disliked...hoping i won't get shot down for this, as it's a daily FTSE chart, but would appreciate any comment on this 'top'? {image}Ignored
DislikedGhous, Please comment on the fakeout scenario that I have posted. On the daily chart, price has broken out of the trendline. Many breakout traders would have entered short here and probably kept stops above the high of the breakout bar. Another bunch of traders would have entered short on the breakout of the low of previous support. So basically all the novices now are short. I have entered long based on the fakeout scenario that has developed on the 4 hour chart. A daily chart could probably be more definitive. Price is trading away from the 150...Ignored
Disliked{quote} The whole Forex world is awaiting the most anticipated news event of 2013, about 9 hours from now, I will be flat, stay flat and read the charts in the aftermath. I certainly would not be trusting any charts patterns that may or may not have produced a certain price action in the past. YMMV, or if you know of certain way to trade, speak up now, and not as Harry Hindsight tomorrow. Regards, E.Ignored
Disliked{quote} It might be. There is a BIG might here. Because there are instances when price will just continue to hang around and do nothing (i.e order accumulation) before we see price breaking down. But yeah, price failing to close under the HHR on the first attempt is generally a good enough bias against shorts for the time being at least. g.Ignored
Disliked{quote} Not sure if you're referring to the fake out that ocuured off the first swing high, or you're referring to the recent swing high as a potential shorting opportunity. In case of the former being true: Yes that was a great fake out that did exactly what it needed to, i.e hit those bar highs at the 6000 area. In case of the latter being true: Not on for me. The recent swing high is way too minor to catch my attention. g.Ignored